DYNAMIC MCDM: THE CASE OF URBAN INFRASTRUCTURE DECISION MAKING

Huy V. Vo (), Bongsug Chae () and David L. Olson ()
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Huy V. Vo: Department of Information and Operations Management, Texas A&M University, College Station, TX 77843-4217, USA
Bongsug Chae: Department of Information and Operations Management, Texas A&M University, College Station, TX 77843-4217, USA
David L. Olson: Department of Management, University of Nebraska, Lincoln, NE 68588-0491, USA

International Journal of Information Technology & Decision Making (IJITDM), 2002, vol. 01, issue 02, 269-292

Abstract: Many societal decisions involve complexity and conflicting objectives. Preferences in such environments can be expected to change as situations evolve. In this paper, we propose a procedure that incorporates Multiple Criteria Decision Making (MCDM) into system dynamics modeling to handle dynamic multiple criteria situations, which we name dynamic MCDM. A case of urban infrastructure is presented to illustrate the procedure. Dynamic MCDM can handle different lags in economic, social, economic and technical effects of large scale systems. Thus, it may help decision makers avoid selecting alternatives apparently effective in the short term, but detrimental in the long term.

Date: 2002
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DOI: 10.1142/S0219622002000166

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